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"Compound interest adds 10% to the amount in your account..."

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$16,105.10. That is asuming it is compound interest instead of regular interest. Compound interest adds 10% to the amount in your account. In other words $10,000 after the first year is now $11,000 be cause 10% of $10,000 is $1,000. after the second year it would be $12,100 in your account because 10% of $11,000 is $1,100. then 10% percent of that is the third year and ten percent of that is the amount in the fourth year. However if the interest was normal interest after ever year elapsed 10% of the base you added ($10,000) would be added to your account. So if it is normal interest after five years you would have $15,000 in your account. but if its compound [the more common of the two] it would be $16,105.10.

"A time deposit is an account from which you cannot withdraw any..."

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A time deposit is an account from which you cannot withdraw any amount before the specified date mentioned at the time of deposit. You receive interest but these are not on demand withdrawal accounts. A notice should be provided by the depositor to take out money before due date. The notice is usually of 30 days. Interest rate varies among different countries and is set by the federal or the state bank. To see in detail the interest rates, visit the following link to get an idea about Bank of Philippine Island.
http://info.bpiexpressonline.com/bpiprod/produpd.nsf/deposit rates/timedepositrates2.

"This seems to be completely reliant on the bank that you operate with..."

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This seems to be completely reliant on the bank that you operate with. When I was with TD, I would receive my pay on Saturday morning. However, upon switching to RBC, I now receive my pay Monday morning.
Hopefully this helps you in some way.

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